I have a Hyundai Matrix.
I am leaving in December. The COE finished next June. On the OneMotoring website I have printed out the Parf refund of about $8000 if I scrap it in December. My questions:
1. the car still has 6 months life on the COE. Will I be better off selling it or just scrapping it in December?
2. How do you scrap a car?
3. Do you get the PARF value regardless of car condition (car has a few dings in the back)?

loosersic wrote:I have a Hyundai Matrix. I am leaving in December. The COE finished next June. On the OneMotoring website I have printed out the Parf refund of about $8000 if I scrap it in December. My questions:1. the car still has 6 months life on the COE. Will I be better off selling it or just scrapping it in December?

Ya never know... but I believe you'll be better off scrapping it because of the PARF refund. This assumes that you have a 10 year COE and have not yet used it all up. Go to http://www.sgcarmart.com/main/index.php and see the selling prices for your car, versus the PARF rebate. Most people won't want to go through the hassle of a four month COE because then they have to scrap it.

You'll get low ball offers under the PARF rebate amount because some people want to make a few coins. But you realize that a rebate of $8,000 for basically 4 months of driving experience just isn't competitive.

Basically, you fill out a form, then take the car and the form to a scrap dealer (listed on the One Motoring website). You turn in the car and the paperwork and soon after, you get a check in the mail.

You might talk to a couple of dealers to see whether export or scrap would be more beneficial to you... generally a car that age is better scrapped.

3. Do you get the PARF value regardless of car condition (car has a few dings in the back)?

The car can be barely recognizable, bashed in everywhere, flat tires, incapable of running... it doesn't matter so long as you can get it to the scrap dealer... and any tow service can do that for you. All that matters is that serial numbers match. Do remember that vehicles totaled in an accident are eligible for PARF rebates.

loosersic wrote:I have a Hyundai Matrix. I am leaving in December. The COE finished next June. On the OneMotoring website I have printed out the Parf refund of about $8000 if I scrap it in December. My questions:1. the car still has 6 months life on the COE. Will I be better off selling it or just scrapping it in December?

the "depreciation" of most used cars are about $1k/month (excluding PARF). there COULD be someone out there looking for a cheap ride if you're sure your car doesn't need much/any work for the last 6 months...

sniff around used car dealers - some may be able to give you a slightly better price if sold as a used car, or at the very least, a cheque immediately for body + PARF without having to scrap it yourself.

the matrix was a popular car and i still see some on the road so i'm pretty sure the parts are worth some to the dealer/scrap yard. they'll know exactly how best to dispose of the car for a profit (for themselves).

here's what i did (no outstanding road tax, car was paid for in full with cash):

1. GET YOUR TPIN

a week before i flew into singapore, i logged into onemotoring to request for a transaction PIN.

it is under "My Account" then "Transaction PIN" - poke on from there and a physical PIN will be mailed to your registered address.

you can also update your personal details (including your banking details for LTA to credit rebates to you after de-registration) before requesting for a PIN. it is under "My Account" then "My Profile" then "Update Owner Particulars" (at the bottom).

if you have outstanding taxes, they would need to be settled at some point. i'm not sure when.

if your care was under HP, you'd need to check that there is no hold placed on it. do so through your bank or LTA (this was info provided by the scrapyard - i asked for the purposes of this post).

i went to the first scrap yard on the list of 4 provided by LTA (within the first link in this post). this part of the post is specific to the scrap yard located at 26 Sungei Kadut St 3.

do not drive into the scrap yard.

ask where to park - they will point you to the end of a row of parked cars - try to park where they point to.

walk straight into the scrap yard, and you will see a little window with a posted sign that says "SCRAP CAR OFFICE" (or something to that effect, a white sign with big red letters).

if there's a queue, then you'll have to queue. otherwise, submit your paperwork (completed form, PIN mailer) and soon after, someone will go check your vehicle for the chasis and engine number. you may be asked to accompany the person doing the checks if they have no clue which is your car, or if you drive an unusual car that they don't know how to find the chasis plate/engine serial number.

if you've parked your car farther away (like i did), then you go drive the car to the guy and he'll direct your car into a suitable position.

after checking, this guy will tell you how much in scrap metal you will be paid for your car. eg, $90. you will then go back to the little window to get your paperwork processed.

after 5 or so minutes, you will be made to sign a few sheets of paper, and be given a print out that says your car has been de-registered. you will be handed also some cash (scrap value), your PIN mailer, the bottom bit of the original application form, as well as a print out on how to encash your PARF/COE rebate.

if you've already updated your bank account information, shown earlier in this post, you log back into onemotoring and click on "Ownership" then "PARF/COE rebate" then "Apply to encash rebate" - i haven't done so, so i'm not exactly sure how that works just yet.

apparently you'll get your money back through direct credit into your bank account, or, if you don've have one, a cheque in the mail (i think you'd still need a bank account for that, so direct credit seems the quickest).

i will update this post when my wife has decided if she wants another car.

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my wife got to drive her car until the very last day, and got a few hundred bucks more than the highest quote a car dealer gave her (and they wanted her car 10-14 days earlier). granted, we both had to take time out to go there (as she had to drive me home), the process quite easy and straightforward. it took us about 20 minutes - including wait time as there was a short queue of people wanting to scrap their vehicles ahead of the long election weekend.

i hope this helps. i believe it would be a similar process at the other 3 scrap yards.

to the OP's questions: they don't care what condition your car is in. the engine serial and chasis number MUST match LTA records.